WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
Banks face £1bn bill over swap sales
BANKS are under pressure to move quickly and compensate firms after the City watchdog found that more than 90 per cent of complex interest rate insurance products had been mis-sold (Scotsman).
FOOD, DRINK & AGRICULTURE
Real Good Food Group shares slide amid trading woes
SHARES in Real Good Food Group slid by more than 16% after it warned third-quarter trading had disappointed. The company said sales over the “crucial” Easter period will determine its full-year results (Herald).
Diageo to slow down deals – and develop tequila
DRINKS giant Diageo is expected to slow down its acquisition strategy following a recent buying spree, saying it wants to develop its own tequila brand after ending talks to buy a stake in Jose Cuervo. Chief executive Paul Walsh outlined the shift in focus in response to questions about the surprise pull-out last year (Scotsman).
Government U-turn secures Scottish defence jobs
THOUSANDS of defence jobs in Scotland have been guaranteed after the government committed itself to a £160 billion equipment spending plan. Prime Minister David Cameron has made it clear he intends to keep his word on providing the Ministry of Defence with real-terms increases after 2015, after its budget was cut 8 per cent in the last year (Scotsman).
The Future of the Media in Scotland
This conference asks the tough questions facing Scotland’s media industry. What kind of media does Scotland want and need in the 21st Century? Does Scotland need its own national broadcaster? Does print media have a future in Scotland? Is there a successful model available to fund high-quality online journalism? Book your place today. (The Scotsman Conferences)
Microsoft takes on 2,000 young Scottish workers
Software giant Microsoft is planning to recruit more than 2,000 apprentices in Scotland over the next three years. The American firm said it wanted to ensure there are enough skilled people entering the industry to feed the growing digital sector. It will use its network of 1,500 partner firms north of the Border to hire 2,016 young people by 2016, double its current annual apprentice intake (Scotsman)
Stagecoach fury at rail franchise fiasco
Stagecoach has complained of “wasted” investment as bidders were left with bills of up to £10 million each after the UK Government decided to scrap the competition for the Great Western rail franchise and entered talks with incumbent FirstGroup (Herald).